ALC Announces Lease Placement of Airbus A320neo Aircraft with Air Seychelles

Air Lease Corporation (NYSE: AL; “ALC”) announced today the lease placement of one new Airbus A320neo aircraft on long-term lease to Air Seychelles (Republic of Seychelles) from ALC’s order book with Airbus. The new aircraft will feature CFM LEAP 1A-26 engines and is confirmed to deliver to the airline in the first quarter of 2020.

“ALC is pleased to announce this significant long-term lease placement with Air Seychelles,” said Steven Udvar-Házy, Executive Chairman of Air Lease Corporation. “This A320neo will be a key addition to the airline’s fleet as Air Seychelles continues to grow its network and maximize their competitive advantage in the region.”

“We are very pleased to announce that the lease agreement with Air Lease Corporation has been completed for the order of the second A320neo,” said Remco Althuis, Chief Executive Officer of Air Seychelles. “The new aircraft will not only position Air Seychelles as the ‘airline of choice within the Indian Ocean,’ but it will also enable Air Seychelles to operate in a more efficient manner. This is definitely a significant milestone for the national airline and we thank Air Lease Corporation for their support throughout this process.”

This new A320neo is the second of two Airbus aircraft on lease to Air Seychelles from Air Lease Corporation and joins an A320-200 aircraft currently on long-term lease to the airline.

Source: Air Lease Corporation
Date: Oct 31, 2018